Preliminary reading of New Zealand ANZ Business Confidence in November showed slight improvement to -15.6, up from October’s -15.7. Own Activity outlook dropped slightly to 4.6, down from 4.7. Looking at some details, export inte3ntions improved from -3.5 to 0.0. Investment intentions dropped from 1.9 to -3.3. Employment intentions rose from -2.5 to -1.4. Inflation expectations rose from 1.38 to 1.55.
ANZ said, “now that the wage subsidy has wound up and the lost summer for tourism looms large, business resilience will be tested. But it’s fair to say the starting point looks much more positive than looked likely a few months ago.”
